The trading volumes at Karachi stocks market remained higher on Monday as the post major announcements led by second and third-tier stocks on strong valuations. “Pakistan stocks closed higher amid higher trades post major announcements at KSE led by second and third-tier stocks on strong valuations,” viewed Ashen Mehanti of Arif Habib Securities. The KSE 100-share index gained 29.80 points to close at 13,382.54 points against 13,352.74 points of the previous day with the intraday high and low hitting 13,553.11 points and 13,352.74 points, respectively.
“Renewed foreign interest, higher global stocks and commodities after developments in Greece crucial debt swap, retail and institutional support ahead of reformed CGT regime implementation from April1, resumption of gas supplies in fertilizer sector, easing circular debt concerns in power sector played a catalyst role in bullish sentiments at KSE despite concerns for rising current account deficit,” said Mehanti. The total traded shares climbed to the six-year high of 576.823 million shares compared to Friday’s 552.793 million shares. The trading value climbed to Rs7.914 billion from Rs7.11 billion of the previous session. The market capital remained slightly up and was recorded at Rs3.476 trillion against Friday’s Rs3.472 trillion. In total 389 scrips were traded of which 179 gained, 134 lost while 76 remained unchanged. The turnover in future contracts rose to 15.744 million shares against the previous 15.15.108 millions shares. The NIB Bank Limited was the volume leader as its traded shares were accounted at 58.663 million each priced at Rs2.85 in the opening and Rs3.03 in the closing.
